New construction of residential real estate in Berlin: trends of 2019
An increase in new construction projects in all parts of Berlin
As of this moment, there are 286 projects already in various stages of construction or in advanced planning stages of new construction in all 12 districts of Berlin. Almost 43.000 apartments are expected to be built in these projects.
Despite the issues such as the difficulty in obtaining a building permit and a significant increase in construction costs, construction in Berlin does not stop for a moment. Recently, a clear trend of expansion of new construction projects in the city has been seen geographically: a lot of new projects are also being built in the areas outside of the Berlin Ring.
As demand for housing in Berlin rises and prices in central regions increase accordingly, more and more people choose to leave to the more remote parts of the city. For example, the Lichtenberg district is in second place in terms of the number of residential units expected to be built (6,000).
This is not to say that the Berliners are neglecting the center: about 9,000 real estate units are expected to be built in Mitte where more than half of them are built especially for rental. The Tempelhof – Schöneberg district, which is partly in the city center, is also developing rapidly. The emphasis here is on small to medium sized projects with less than 100 apartments each, and the main building is focused at the sub-district of Friedenau.
The pace of new construction in Friedrichshain – Kreuzberg is not particularly impressive, but at the same time, housing prices continue to climb upwards, with some prices only starting at € 5,000 per square meter.
In the northern part of the district of Neukölln, too, a lot of construction is planned: about 2400 apartments in 14 projects in the district are under construction or advanced planning – a significant increase compared to previous years. However, most of the construction will take place in the north of Neukölln with few projects south of the Stadtautobahn road.